Trinity Groves is a success story in the making
The second phase of the Trinity Groves development will elevate it from innovative dining in a remade warehouse district, toward a full-service neighborhood.
The first phase of the new housing component will include 250 to 350 apartments, to begin construction in 2014 and be complete in late 2015.
By last spring, with only a few restaurants open, Trinity Groves officials estimated construction and restaurants to have created 175 jobs with an estimated annual payroll of over $5 million. As the restaurant incubator program continues to grow, 400 jobs have been created since last spring and another 400 are expected to be added by the end of next year when 17 new restaurants will begin opening. Each restaurant expected to produce $1.5 million a year in gross sales.
The City is also leveraging investment, making street improvements in preparation for the housing and commercial growth south from Singleton, and expanding a nearby tax increment finance (TIF) district to include the area. The successful TIF was expanded from the American Airlines Center and Victory Park in hopes to redirect $14 million over time to this area just across the Trinity River.
The combined public and private investments are turning old buildings and vacant properties into new revenue-producing assets and a commercial tax base, as well as providing jobs and restaurants for residents in the adjacent La Bajada and Los Altos neighborhoods to the north of Singleton.
In the near future the development is also planned to include neighborhood services such as banks, dry cleaners and convenience stores.
Source: Dallas Morning News, Dec 8, 2013.
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